Question
Under Clause 4 of the Banking Ombudsman Scheme, 2006, who appoints the Banking Ombudsman, and what is the maximum tenure for a single appointment?
Solution
Explanation:
Clause 4 of the Banking Ombudsman Scheme, 2006 (issued under Section 35A of the Banking Regulation Act, 1949) explicitly states: · Appointing authority: The Reserve Bank of India (not the Central Government a very common confusion in exams) · Eligibility: The appointee must be one of the RBI's own officers in the rank of Chief General Manager or General Manager · Tenure: The appointment shall be made for a period not exceeding three years at a time
More Banking Related Laws Questions
- In which of the following cases did the court held that the Karnataka Scheduled Castes and Scheduled Tribes (Prohibition of Transfer of Certain Lands) Ac...
- Under the definition of “approved securities” in Section 5(a) of the Banking Regulation Act, 1949, as substituted by the Banking Laws (Amendment) Act, 2013...
- Section 30(2) of the SARFAESI Act provides that no court inferior to a certain level shall try offences under the Act. What is the minimum level of court t...
- Which of the following is considered retrenchment under the provisions of the Industrial Disputes Act, 1947?
- Under Section 57 of the RBI Act, 1934, the Reserve Bank shall not be placed in liquidation save by order of whom?
- The fundamental test to attract s 10 is whether on final decision being reached in the previous suit, such decision would operate as res judicata in the su...
- Under the PMLA, the cross-border implications of money laundering are addressed through cooperation with which type of authorities?
- Under the RTI Act, information relating to events that occurred how many years before the request shall generally be provided, subject to certain exemption...
- The question is, whether A and B, were married. The fact that they were usually received and treated by their friends as husband and wife, is relevant. Thi...
- Under which provision of CPC, execution of decree for specific performance for restitution of conjugal rights or for an injunction is provided:
Relevant for Exams:
